Wheat lives up to its reputation!

I have often referred to wheat as the manic-depressive grain in this blog. Wheat is rapidly becoming my favorite grain to trade. It can be up, down, and up again in a single day! What a great grain to trade! It nearly reached lock limit up this morning. Then, it reversed completely and went down 26 cents from its high. It then started back up again, where it was again profitable at the time of this writing.

Wheat prices have twice tested the 50% Fibonacci level and held firm at about $8.75/bushel in recent days.